510 South 15th Street

Prime location, great income producing investment property. 3 stand-alone homes, 4 units, 3 blocks south of University of Wyoming. Own your own little block of rentals.
510 and 506 South 15th being offered together.

Land

The County identifies this as two lots with a total of .16 acres.  R3 zoning -residential/ multi family / townhouse / apartments. This would be a great buy and hold as the university expands and demand becomes higher for the area.

Improvements

This unique income-producing property includes three remodeled residences, two of which are classic 1920s Sears Catalog Homes originally brought in by the railroad to house train conductors. Thoughtfully updated while preserving their historic character, the homes offer a compelling blend of charm, functionality, and rental appeal.
510 S. 15th is configured with separate upper and lower units and was remodeled in 2023. The property features separate entrances, a shared yard, one off-street parking space typically used by the lower unit, and an additional storage shed.
The upper unit offers 2 bedrooms and 1 bathroom, along with a modern kitchen equipped with a compact washer and dryer. This unit is currently rented for $950 per month.
The lower unit is a studio apartment with a full kitchen, full bath, and in-unit washer and dryer, and it currently rents for $850 per month.
506 S. 15th is a single-unit residence fully remodeled in 2025.  Featuring 1 bedroom, a full kitchen, living room, dining room, and a full basement with laundry. The property also includes a large yard, a storage shed, and one off-street parking space. It is currently rented for $950 per month, and the tenant is responsible for snow removal and lawn care for all three units.
The largest home in the portfolio, 1481 Custer, occupies the corner of Custer and S. 15th. This spacious residence features a main-floor bedroom, bathroom, full kitchen, and attached 1 car garage with additional space above. The lower level includes 2 bedrooms, a full bathroom, laundry, and mechanical space. With its exterior entrance, the lower level may offer potential for conversion into an additional unit, subject to city and county approval. This is currently rented for $1,450.00 per month